Dr. Ed's Blog

August  18 (Thursday)

Latest Morning Briefing Executive Summary: Consumers, Russia & The Metaverse
With gasoline prices down in July, consumers had more money to spend on discretionary purchases, and retailers of most kinds benefited. Jackie taps Target’s Q2 results for consumer-spending trends and takeaways . … Also: Waging war in Ukraine has cost the Russian economy a great deal, but Q2 GDP contracted much less than economists expected, buoyed by the high prices that Russia’s energy exports fetched. … And: The Metaverse is hopping with diverse events—from concerts and celebrity-hosted parties to fashion shows and fine art sales. And everyone’s invited.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 15.

Markets
Stocks End Lower After Fed Minutes, More Earnings | W
Oil prices ease as Russia output increases | R
Column: ‘Peak inflation’ ambiguous for dollar | R

Central banks
Fed Officials See Need for Continued Interest-Rate Increases, but Less Certainty Over Destination | W
Fed Minutes July 2022 FOMC Meeting: Smaller Hikes Ahead to Assess Past Moves | B

US
U.S. Retail Spending Held Steady in July | W
The Inflation Reduction Act does more than clean energy and EV tax credits | Vox
Inflation Reduction Act Shows Far Left’s Extremism and Elitism | The Heritage Foundation
Not one Republican stood up for climate, jobs or lower costs | The Hill
Biden’s IRS Army will declare war on political enemies | P
Biden Labor Department Seeks to Redefine Independent Contractors | CJ

Industries & companies
Manufacturing: Makers of Heating, Cooling Systems Expect Climate Bill to Boost Sales | W

Geopolitics & trade
US and Taiwan Begin Formal Negotiations on Trade Initiative | B
China to Join Russia Military Exercises as U.S. Rivals Deepen Ties | W

Climate
Feds call for water cutbacks as Colorado River is in 23-year drought | C

Beyond markets
Covid’s Harmful Effects on the Brain Reverberate Years Later | B
U.S. CDC plans to focus on public health response after pandemic failings | R

August  17 (Wednesday)

Latest Morning Briefing Executive Summary: More On The Bulls Vs Bears Debate
Is the stock market rally since June 16 a rally within the bear market or the start of a new bull market? The answer hinges on the economic outlook. We’re in the bull camp, believing that inflation is peaking, Fed tightening is nearly over, and a recession won’t result; bears may believe the opposite. … Analysts have been cutting their estimates for earnings but not revenues, so expected profit margins have been falling. That suggests they see no recession, just more difficulty passing fast-rising costs on to customers. … Also: Peeks at the MegaCap-8’s rally impacts on the S&P 500, Senator Schumer’s wrong-headed anti-buyback stance, and alternative measures of inflation.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 15.

Markets
Dow closes 200 points higher on Tuesday for fifth day of gains, buoyed by Walmart and Home Depot | C
Stocks End Mostly Higher With Retail Earnings in Focus | W
Five Not-Quite-Impossible Things the Market Believes | W
As Oil Falls Below $90, Where Do Prices Go From Here? | N
Flush With Oil Profits, Saudi Arabia Pours $7.5 Billion Into U.S. Stocks From Amazon to Microsoft | W

Central banks
Fed Warns Banks Jumping Into Crypto to Do Legal Homework First | B

US politics
US Inflation Reduction Act Is a Climate Bill by Another Name | B
Bill Gates, Joe Manchin, and How Biden’s Inflation Reduction Act Almost Failed | B
Biden signs inflation act, hands pen to Manchin | R
Biden Signs $437B Tax-Climate Law In Win for Democrats Ahead of Midterms | B
Biden signs Inflation Reduction Act into law, setting 15% minimum corporate tax rate | C
Inflation Reduction Act to cap costs for Medicare patients on insulin | C
Five Things That Biden’s Climate Bill Will Change for Automakers | B

US
Homebuyers are backing out of more deals as recession fears linger | C
Home Building Fell Sharply in July as Costs Increased | W
Consumers Pay More for Less, Boosting Walmart and Home Depot | W
If the Job Market Is So Good, Why Is Gig Work Thriving? | N
Opinion | Gen X Is Kind of, Sort of, Not Really the Boss | N
Schools Are Looking in Unusual Places to Deal With Teacher Shortage | W
States Expand Sales-Tax Holidays as Americans Feel Price Increases | W

Europe
Heat Wave Intensifies Energy Crisis in Europe | W
Germany to Keep Last Three Nuclear-Power Plants Running in Policy U-Turn | W

Geopolitics & trade
U.S. Approves Nearly All Tech Exports to China, Data Shows | W

Industries & companies
Airlines: American Airlines agrees to purchase 20 supersonic jets – CNN
Retail: Walmart.com drew higher-income shoppers looking to buy food | R
Tech: Cloud hangs over U.S. chipmakers on worries data center growth could slow | R
Tech: Apple and Meta headsets could face a big challenge: Sticker shock | C

Corporate finance
Why the 1 Percent Buyback Tax Doesn’t Scare Investors | N

Beyond markets
WHO vows nothing ‘ridiculous’ as public submits ideas to rename monkeypox | R
Polio circulating locally in NYC area, poses risk to unvaccinated, CDC says | C

August  16 (Tuesday)

Latest Morning Briefing Executive Summary: Why Are Oil Prices Falling?
Wondering what brought the price of gasoline and other petroleum products back down toward earth in recent weeks? Our data show it’s not Biden’s release of crude oil reserves but the effects of previously soaring prices—which depressed demand and sparked production—combined with China’s economic slowdown. … Speaking of which: Just when we thought the much-anticipated recession would be a no-show like Godot, he was spotted in China and maybe New York too. Might the US be in for a “rolling recession” à la the 1980s?
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 15.

Markets
Stocks Extend Winning Streak | W
Wall Street climbs, adding to recent gains as megacaps rise | R
Investors Are Betting Yet Again That Inflation Will Cool | W
Gold Holds Decline as Dollar Reigns Amid Concerns Over Slowdown | B

Central banks
Federal Reserve Can Fight Recession With Lessons from Its Past | B
Goldman sees a ‘feasible but difficult path’ for the Fed to defeat inflation without a recession | C
Federal Reserve Finalizes Guidelines for Access to Its Payment Systems | W

US
U.S. is in housing recession, homebuilders say | C
Stores, suppliers fight over price hikes as inflation squeezes shoppers | C
Biden’s created our bad new normal, and he’s loving it | P
What Democrats’ call for Social Security reform means for benefits | C

China
China’s Growth Slowed Across All Fronts in July, Prompting Unexpected Rate Cut | W
China Needs More Stimulus to Boost Economy, PBOC Paper Says | B
China pares back holdings of U.S. Treasuries for 7th month | R

Geopolitics & trade
Ukraine calls on world to ‘show strength’ after shelling near nuclear plant | R
What a Chinese Blockade of Taiwan Would Mean for Global Business | W
China Restarts Military Drills in Response to Latest U.S. Lawmakers’ Visit to Taiwan | W
NYSE delistings signal Beijing may be willing to compromise on U.S. audit dispute -analysts | R

Industries & companies
Airlines: This is a great time to be an airline. It’s the worst time to be a passenger | NN
Airlines: Why Is Airline Travel So Miserable? Blame Florida | W
Autos: SoftBank-backed Ola Electric wants to launch India-built EV in 2024 | C
Pharma: Newly-launched U.S. drugs head toward record-high prices in 2022 | R
Retail: Walmart enters streaming deal with Paramount+ in race with Amazon | R
Tech: Apple tells employees to come in 3 times a week starting September | C

Corporate finance
Stock Buybacks and Dividends Become a $1.5 Trillion Political Target | N
Dan Loeb’s Third Point Calls for Disney to Spin Off ESPN, Refresh Board | W

Climate
South, Midwest will see worst increases in extreme heat by 2053 | C
The Basic Math Problem that Undoes Global Warming Hysteria | American Thinker

Beyond markets
For Rent: 327 Square Foot Apartment With 5 Rooms—Thanks to Robot Furniture | W

August  15 (Monday)

Latest Morning Briefing Executive Summary: Waiting For Godot
Today, we sift through the recent economic data and recent Fed head chatter for clues to the critical question: Now that recession fears have abated for 2022, what are the odds of one in 2023? … We give 60% odds to a slow-growth scenario, with GDP growing 1.5% in H2-2022 and 2.5% in 2023; 35% odds to a recession next year precipitated by the Fed’s inflation battle; and 5% odds to a boom scenario. … Critical to the recession question is whether inflation is peaking. We think so but need to see more evidence to be sure. … And: Dr. Ed reviews “Elvis” (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.

Markets
Earnings Season Is Over. The Stock Market’s Gains Won’t Come Easy Now. | BR
Market Rebound Draws Wary Eye From Some Investors | W
Wall Street, Like the Climate Bill, Bets on Both Green Energy and Fossil Fuels | W
Short-sellers are struggling despite a bad year for stocks | E
These Funds Hold Just 1 Bond. Why They’re Revolutionary. | BR
 
Climate-plus bill
The Climate Bill Is About to Reshape Global Energy. Here’s How to Invest. | BR
Inflation Reduction Act: House passes massive climate, tax and health bill | C
America’s climate-plus spending bill is flawed but essential | E
Drug-Price Rules for Seniors Change With Passage of Climate and Health Bill | W
 
US
This was a good week for inflation numbers, but whether it can last is the big question | C
Consumers Are Still Spending on Fun | W
U.S. Consumer Sentiment Improved in August From Early Summer Low | W
Rent Prices Are Climbing Fast. What’s Happening—and How Much More It Could Rise. | BR
Labor Shortage Is Vexing Challenge for U.S. Economy | W

China
China’s mortgage boycotts are a symptom of a broader crisis | E
An Interview With Allianz Global’s China Expert Virginie Maisonneuve | BR

Industries & companies
Pharma: Buy Eli Lilly and Novo Nordisk Stock. Their Weight-Loss Drugs—and Their Shares—Could Take Off. | BR

Technology
Faster Internet Is Coming to America—as Soon as the Government Knows Where to Build It | W
 
Geopolitics & trade I
China’s huge exercises around Taiwan were a rehearsal, not a signal, says Oriana Skylar Mastro | E
Xi Jinping may attack Taiwan to secure his legacy, warn Admiral Lee Hsi-min and Eric Lee | E
How to prevent a war between America and China over Taiwan | E

Geopolitics & trade II
Thanks to Vladimir Putin, Germany has woken up | E
Why isn’t Russia blocking GPS in Ukraine? | E
Ukraine Accuses Russia of Using Nuclear Plant to Blackmail West | W
First ship carrying Ukraine wheat under UN deal docks in Turkey | R

August  13 (Saturday)

Latest Morning Briefing Executive Summary: Health Care, Earnings & Uncle Sam
Today, Jackie takes the pulse of the S&P 500 Health Care sector, examining the M&A activity that has spurred it to outperform the market ytd and what the Inflation Reduction Act will mean for drug makers. … Also: A look at the 2023 earnings growth prospects of various S&P 500 sectors and industries. … And: How the Inflation Reduction Act aims to buy a greener US. … Plus: What will the newly passed CHIPS and Science Act spend $280 billion on? Lots more than chips.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.

Markets
Dow closes up 400 points, S&P 500 rises for fourth straight week as investors warm to cooler inflation | C
Have Stocks Bottomed? | Morningstar
Japanese Yen Attracts Hedge Funds as a Speculator’s Currency | W

Central banks
Fed’s Barkin says rate increases need to continue until inflation holds at 2% | C

Global
Global Population Is About to Hit 8 Billion—and Some Argue It Is Near Its Peak | W

US Politics–breaking news
Trump’s Mar-a-Lago, a security ‘nightmare’ that housed classified documents | R
FBI Recovered 11 Sets of Classified Documents in Trump Search, Inventory Shows | W
Trump search warrant cites statutes that call for prison sentences | C

US
This was a good week for inflation numbers, but whether it can last is the big question | C
Best Way to Measure Inflation Rates? The Mysterious Price of Mayonnaise | B
Inflation Reduction Act’s Needless Health-Care Provisions | city-journal.org
Can I Buy a House? Market is Cooling Off With Fewer Bidding Wars Across US | B
U.S. Housing Affordability in June Was the Worst Since 1989 | W
U.S. Schools Put Covid-19 Safety Measures in Rearview, Dividing Some Parents | W

Geopolitics & trade
Ukraine Readies Plans to Evacuate Civilians Amid Fighting Near Nuclear Plant | W
China’s Xi Jinping Plans to Meet With Biden in First Foreign Trip in Nearly Three Years | W

Industries & companies
Airlines: U.S. allows Delta to temporarily cut some New York, Washington flights | R
Airlines: Even airline employees are having trouble finding a seat home from Europe this summer | C
Fitness: Peloton slashing 780 jobs, closing stores and hiking prices in push to turn profit | C

Technology
China’s Computer Chips Are Down | W

Beyond markets
Monkeypox Virus: WHO Asks Public to Submit New Name Ideas in Online Portal | B

August  12 (Friday)

Latest Morning Briefing Executive Summary: Health Care, Earnings & Uncle Sam
Today, Jackie takes the pulse of the S&P 500 Health Care sector, examining the M&A activity that has spurred it to outperform the market ytd and what the Inflation Reduction Act will mean for drug makers. … Also: A look at the 2023 earnings growth prospects of various S&P 500 sectors and industries. … And: How the Inflation Reduction Act aims to buy a greener US. … Plus: What will the newly passed CHIPS and Science Act spend $280 billion on? Lots more than chips.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.

Markets
Stock Rally Fades as Investors Weigh Next Steps on Inflation | W
The Market’s Peak Inflation Story Fights the Fed | W
OPEC Cuts Oil-Demand Forecasts as Economic Growth Slows | W

US
Column: Deep U.S. curve inversion hastens the recession it predicts | R
U.S. Supplier Inflation Logs Slowest Pace Since Last Fall | W
Gas prices are falling — Here’s why it’s happening and whether it can continue | C
Inflation Cooled in July, Welcome News for White House and Fed | N
U.S. Home Prices Jumped to Record High in Second Quarter | W
US Mortgage Rates Swing Back Up, Hitting 5.22% in Volatile Market | B
Inflation, Soaring Rent Prices From Miami to Las Vegas Has Americans Struggling | B

China
The Bursting Chinese Housing Bubble Compounds Beijing’s Economic Woes | W

Industries & companies
Energy: How high energy prices are making things better this summer | The Hill
Media: Disney is raising prices, but this time, don’t blame inflation | C

Geopolitics & trade
Xi Sought to Send Message to Biden on Taiwan: Now Is No Time for a Crisis | W
EU Proposes Significant Concession to Iran to Revive Nuclear Deal | W

Beyond markets
New Langya virus infects 35 people in China
Covid: CDC eases guidance as U.S. has more tools to fight the virus | C
U.S. CDC no longer recommends students quarantine for COVID-19 exposure | R

August  10 (Wednesday)

Latest Morning Briefing Executive Summary: Earnings & Productivity
Why are industry analysts now slashing the estimates they had raised throughout the year’s first half (even as the economy slowed)? … Why has productivity growth dropped to its weakest y/y rate since 1947? Is it simply returning to its pre-pandemic trendline? … Why has household formation suddenly rebounded? … How did landlords get so lucky as to find themselves in a “Golden Age”? … Today, we explain these economic anomalies, aided by recent data releases. … Also: With the economy in a growth recession and forward earnings starting to flatten, the valuation-led stock market rally might sputter for a while.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.

Markets
Tech Stocks Lead Market Lower as Investors Await Inflation Data | W
Strategists Under the Same Roof Clash on Stock Market Before US CPI Data | B
U.S. Lawmakers Look to Digital Dollar to Compete With China | W

US I
How This Economic Moment Rewrites the Rules | N
Rapid Wage Growth Keeps Pressure on U.S. Inflation | W
Eggs Prices in US Jump 47% as Food Inflation Soars, IRI Says | B
U.S. Productivity Falls for Second Straight Quarter | W
With 87,000 new agents, here’s who the IRS may target for audits | C

US II
Congress needs to take its role in inflation seriously | The Hill
Biden needs to stop stock trading in Congress | MSNBC
FBI Search of Trump Property Prompted by Concerns Over Sensitive Documents | W

Geopolitics & trade
War between China and Taiwan would create global chaos | Washington Times
War Game Finds U.S., Taiwan Can Defend Against a Chinese Invasion | W
U.S. Solar Shipments Are Hit by Import Ban on China’s Xinjiang Region | W

Industries & companies
Autos: Ford increasing price of electric F-150 Lightning | C

Technology
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones | W

Beyond markets
FDA Adopts Policy to Stretch Monkeypox Vaccine Supplies | W
U.S. allows alternate monkeypox vaccine injection method to boost supply | R

August 09 (Tuesday)

Latest Morning Briefing Executive Summary: Around The World
Zooming out to assess big-picture data for major global economies, we conclude that Germany and China look most vulnerable to a recession next year. The US wouldn’t be immune to a global recession, but certain factors help insulate it. These include heavy capital inflows resulting from foreign investors’—correct—perception that US financial markets offer the safest harbor there is. Overweighting the US in global portfolios remains prudent. … Also: Germany’s economy faces duress this winter as heating the country becomes a challenge, and China’s economy is suffering at the hands of homegrown problems related to housing, lockdowns, and demographics.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 8.

Markets
S&P 500 and Nasdaq slip to start the week as Nvidia warning puts brakes on market rally | C
Wall Street muted on mixed inflation messages | R
U.S. Lawmakers Look to Digital Dollar to Compete With China | W

Central banks
Consumers expect inflation to slow down, a big win for the Fed | C

Energy
What Germans Know About Nuclear Power | W

US
Economist: Inflation Reduction Act won’t curb inflation short-term | C
The Houdinis of Carried Interest | W
What carried interest is, and how it benefits high-income taxpayers | C
The Inflation Reduction Act would double IRS agents and audits — but superrich aren’t real targets | P
Reconciliation bill includes nearly $80 billion for IRS funding | C
Opinion | Bill Gates: A Clean Energy Future is in the Hands of Congress | N
Hiring Gets Easier for Some Employers Despite Hot Job Market | W
The inflation problem nobody is talking about | Washington Examiner

Geopolitics & trade
Biden ‘concerned’ as China extends military drills around Taiwan | R
Apple tells suppliers to use ‘Taiwan, China’ or ‘Chinese Taipei’ to appease Beijing
Opinion | Chinese Ambassador Qin Gang: Pelosi’s Taiwan visit was irresponsible | WP
Attacks at Ukraine Nuclear Plant Are Suicidal, U.N. Chief Warns | W
What’s the plan to counter Russia’s energy squeeze? | The Hill

Industries & companies
Aerospace: Boeing Dreamliner deliveries to resume in the ‘coming days,’ FAA says | C
Consumer: Tyson Foods Says Consumers Shifting Away From Higher-Priced Beef | W

Technology
Baidu Secures China’s First Ever Permits for Commercial Fully Driverless Robotaxi Services
100 Vehicles Catch fire in Delhi’s Electric Vehicle Charging Station – India
Hundreds of new mines required to meet 2030 battery metals demand | IEA report

Corporate finance
Flush with cash, Pfizer buys Global Blood Therapeutics in $5.4 bln deal | R

Beyond markets
Central Planning Fails Just As Much When Conservatives Are the Planners | FO

August 08 (Monday)

Latest Morning Briefing Executive Summary: No Recession In Labor Market
July’s surprisingly strong payroll employment report points to a strong July reading for the Index of Coincident Economic Indicators. This is good news for the economy, bad news for the fixed-income market, and mixed news for the stock market. While it squashes near-term recession fears, it ups prospective Fed hawkishness. … Within the labor market, there is unprecedented churn as people quit in record numbers for higher-paying positions elsewhere. Over half the workers in July’s employment report were hired over the past year! But consumer prices are spiraling upward along with wages, so even job-jumpers aren’t seeing much wage growth after adjusting for inflation
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 1.

Markets
Investors Brace for More Market Volatility as Earnings Estimates Slump | W
How to Protect Yourself From Another Stock Market Plunge | BR

Central banks
Fed Governor Bowman sees ‘similarly sized’ rate hikes ahead after three-quarter point moves | C
The Fed Is About to Ramp Up Balance-Sheet Shrinkage. It May Get Dicey. | BR
Why We Expect the Fed to Cut Interest Rates in 2023 | Morningstar
Rate Hikes Are Not the Right Answer to “Wage-Price Persistence” by James K. Galbraith | PS
What the 1980s Can Teach Us About Interest Rates and Inflation | N

Global
Weak Growth, Tight Job Markets Are a Global Phenomenon | W
The silver linings of a recession | E
Food Price Inflation Imposing Heavy Burden on Poorer Countries | W

US
Job Boom Means No Recession and Boosts Pressure for Rate Hikes | BR
Has the Recession Started? The Labor Market Says No. | BR
A shortfall in immigration has become an economic problem for America | E
Democrats’ big climate, health care and tax package clears major Senate hurdle | C

Europe
The EU agrees on an energy diet to fight Russian gas cuts | E
France’s nuclear plants are going down for repairs | E
Italy’s next government may be more nationalist than Europe likes | E

China
China’s War Games Showcase New Tools to Intimidate Taiwan | W
Column: China’s U.S. ag imports soar to new highs in 2022, but volumes vary | R

Geopolitics & trade
Chinese and Taiwanese warships shadow each other as drills due to end | R
After agreeing to let Ukraine export grain, Russia rockets its port | E

Industries & companies
Industrials: Buy GE Stock as a Breakup Looms | BR
Media: Advertising Slowdown Spreads Beyond Tech Giants to Hit TV Networks, Publishers | W
Media: Netflix may be missing an opportunity in horror movies | C
Pharma: Republicans block cap on insulin costs for many Americans from Democratic deal | C
Real Estate: Blackstone’s Giant Real Estate Fund Faces a Test | BR
Restaurants: Consumers are cutting back on restaurant spending, but CEOs say not all chains are affected | C
Tech: Direct-to-Consumer Sales Are Fueling Supply-Chain Tech Growth | W
Tech: The era of big-tech exceptionalism may be over | E
 
Corporate finance
CVS Plans to Bid for Signify Health | W

Beyond markets
America’s response to monkeypox has been underwhelming | E

August 06 (Saturday)

Latest Morning Briefing Executive Summary: Emerging Markets, Oil Refiners & Nuclear Power Plants
Today, Jackie takes us on a quick world tour focusing on emerging economies. Many are ailing, but a few offer a safe haven from geopolitical storms. So does the US with its strong dollar, huge economy, and relatively calm body politic. … Also: Oil refiners had a stellar Q2 operating at near maximum capacity to meet surging demand. The industry is on track for another year of eye-popping revenues and earnings growth. … And in the disruptive technologies department, we highlight the potential of SMRs—small modular (nuclear) reactors.
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 1.

Markets
S&P 500, Nasdaq fall Friday, but notch weekly gains after blowout July jobs report | C
YOLO Stock Market Bulls Say Wake Me When Fed Tightening Starts to Bite | B
U.S. Treasury yields: nonfarm payrolls, unemployment, Fed, recession | C

Central banks
Larry Summers Warns Fed on 1970s-Style Mistake With CPI Set to Slow | B

US I
The U.S. economy has yet to face its biggest recession challenge | C
July Jobs Report: U.S. Added 528,000 New Jobs as Unemployment Rate Fell to 3.5% | W
Here’s where the jobs are for July 2022 — in one chart | C
Workers in these two industries are the only ones coming out ahead right now | NN
US Consumer Borrowing Jumps by More Than $40 Billion, Second-Most Ever | B

US II
Yes, It’s a Strong Jobs Report, but July Probably Overstates the Case | Morningstar
Jobs Report Bolsters Biden’s Message, but Inflation Makes Economy a Hard Sell | W
Democrats Trade One Bad Tax Increase for Another | W
Lower Gas Prices Threatened by Fuel Makers’ Limitations | W

Geopolitics & trade
China Steps Up Military, Diplomatic Warnings Over Taiwan | W
China halts military, climate dialogue with U.S. over Pelosi Taiwan trip | R

Industries & companies
Autos: U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill | R
Retail: The Hot New Trend for Gucci and Chanel: Middle America | W

Corporate finance
Amazon to acquire iRobot, maker of Roomba vacuums | C
Pfizer in Advanced Talks to Buy Global Blood Therapeutics for About $5 Billion | W

Beyond markets
Health Authorities Issue New Advice for Avoiding Monkeypox | W
DeepMind’s AlphaFold could be the future of science and AI | Vox